Do you have to add Cookie Banner to your website with basic Google Analytics

Hello r/SEO

I was wondering how Cookie banners work with Google analytics. I heard that you don't have to put a cookie consent banner if you are using the basic version but with the advanced version you do (because it provides more detailed information). Can someone clarify this?

Also, what happens to websites that don't put cookie consent banners altogether if they ARE tracking data. Thanks!

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